PIMA COMMUNITY COLLEGE PUBLIC HEARING TRUTH IN TAXATION NOTICE OF - PowerPoint PPT Presentation

PIMA COMMUNITY COLLEGE – PUBLIC HEARING TRUTH IN TAXATION – NOTICE OF TAX INCREASE ADOPTION OF FISCAL YEAR 2020 PROPOSED BUDGET JUNE 12, 2019 PRESENTED BY: DR. DAVID BEA

TRUTH IN TAXATION NOTICE OF TAX INCREASE

TRUTH IN TAXATION – NOTICE OF TAX INCREASE

PRIMARY PROPERTY TAX LEVY DETAIL – PROPOSED FY 2020 FY 2020 FY 2019 Levy Neutral Proposed Net Taxable Value Current Year ($100s) $ 83,338,929 $ 87,299,649 $ 87,299,649 Overall Change in Valuation 3.21% 4.75% 4.75% Change from New Property 1.86% 1.05% 1.05% Estimated Primary Tax Rate Authorization $ 1.3983 $ 1.3488 $ 1.3758 (per $100 net assessed valuation) Primary Tax Levy $ 116,532,824 $ 117,749,767 $ 120,106,857 Change from previous fiscal year $ 1,216,943 $ 3,574,033 Truth in Taxation Levy Increase $ 2,357,090

PROPOSED AZ COMMUNITY COLLEGES PROPERTY TAX RATES FY 2020 (RATES PER $100 NET ASSESSED VALUATION) $4.00 3.4322 $3.50 $3.00 2.5711 2.4516 $2.50 2.2132 $2.00 1.8408 1.8164 1.3758 $1.50 1.3255 1.3173 $1.00 0.4592 $0.50 $0.00 Eastern Western Cochise Central Yavapai Northland Pima Mohave Maricopa Coconino Primary Tax Rate Secondary Tax Rate

PCC PRIMARY, SECONDARY, & COMBINED TAX RATES (FISCAL YEARS 2000-2020*) 1.7500 Proposed 1.3696 1.3758* 1.5000 1.2500 Levy Neutral 1.3488 1.0000 0.7500 0.5000 0.2500 0.0000 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Primary Property Tax Rate 1.1626 1.1709 1.1455 1.1530 1.1358 1.1143 1.0930 1.0570 1.0191 0.9787 0.9356 0.9755 1.0846 1.1484 1.2746 1.3344 1.3689 1.3733 1.3890 1.3983 1.3758 Secondary Property Tax Rate 0.2070 0.3865 0.4015 0.3803 0.3526 0.2285 0.2184 0.1945 0.1654 0.1502 0.1414 0.1093 0.0248 0.0257 0.0187 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Combined Primary + Secondary Tax Rates 1.3696 1.5574 1.5470 1.5333 1.4884 1.3428 1.3114 1.2515 1.1845 1.1289 1.0770 1.0848 1.1094 1.1741 1.2933 1.3344 1.3689 1.3733 1.3890 1.3983 1.3758 * proposed

QUESTIONS?

ADOPTION OF FISCAL YEAR 2020 PROPOSED BUDGET

FY 20 20 STRATEGIC PRIORITIES • Progress towards final year of FY 2018-2020 Budget Plan • Enrollment Revitalization • Enrollment Management • Scholarships • Marketing • Program Expansion • Professional Development

FY 2020 REVENUE SUMMARY • Approved Tuition and Fees • $84.50 per credit in-state resident rate, +$900K • Differential Tuition change, +$700K • Proposed Property Tax Levy increase of 2% (levy max), +$2.3M • State Appropriations • $15.0M for expansion of Aviation Technology Center • $400K for STEM/Workforce Development • Proposed Revenues – All Funds $317.2M • Proposed Revenues – General Fund $170.9M

KEY BUDGET COMPONENTS - EXPENDITURES • Salaries and Wages • Make permanent the 2.5% increase to salaries and wages • Increase of 1.5% for salary pools • Increase of 1.5% for adjunct faculty load rate (increase to $832 per load hour) • Capital Budget of $15.3M • Revenue Bond Debt of $4.4M • Lease Purchase Debt of $1.0M • Reserve for One-Time Budget Enhancements of $5.0M • Proposed Expenditures – All Funds $317.2M • Proposed Expenditures – General Fund $170.9M

FY 2020 PROPOSED BUDGET, $317.2M (ALL FUNDS, IN $ MILLIONS) Contingency, $8.9 Debt Service - Other Long Term Debt, $5.4 Instruction, $61.9 Capital Assets, $90.3 Academic Support, $31.5 Auxiliary Expense, $1.5 Student Services, $32.8 Scholarships, $31.4 Institutional Support, $39.0 Operation and Maintenance of Plant, $14.5

FY 2020 PROPOSED BUDGET EXPENDITURES, $317.2M (ALL FUNDS, IN $ MILLIONS) Administrative Personnel, $6.1, 2% Contingency and Reserves, $22.2, 7% Faculty, $19.8, 6% Student Financial Aid, $30.9, 10% Additional Compensation-Faculty, $0.6, 0% Other Expenditures, $7.0, 2% Adjunct Faculty, $14.8, 5% Current Fixed Charges, $3.1, 1% Classified Staff, $49.3, 16% Supplies and Materials, $9.4, 3% Contractual Services, $18.3, 6% Other Compensation, $5.0, 1% Travel, $2.6, 1% Student Employment, $0.5, 0% Communications and Utilities, $5.8, 2% Fringe Benefits, $30.0, 9% Capital Equipment, $91.8, 29%

STATE BUDGET FORM – SCHEDULE A

STATE BUDGET FORM – SCHEDULE B

STATE BUDGET FORM – SCHEDULE C

THE FISCAL YEAR 2020 BUDGET WOULD NOT BE POSSIBLE WITHOUT: FINANCE AND BUSINESS SERVICES STAFF THANK YOU!

QUESTIONS?

ADDITIONAL CHARTS, INFORMATION, & RESOURCES

EXPENDITURE LIMIT VS. ACTUAL AND PROJECTED EXPENSES, FY11 TO FY21 (IN $000S) 130,000 120,000 110,000 100,000 90,000 80,000 70,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Limit Actual EL expenses

COMMUNICATION • May 24 and June 3, 2019 publication in the Arizona Daily Star • Proposed Budget • Truth in Taxation – Notice of Tax Increase • May 24, 2019 Press Release on the proposed budget and Truth in Taxation • June 12, 2019 Public Hearing and Special Board Meeting to adopt the FY 2020 budget and set property tax levies and rates

STRATEGIC PRIORITIES • 2017-2021 College Strategic Plan • Educational Master Plan • Facilities Master Plan • Diversity, Equity, and Inclusion Plan • Strategic Enrollment Management Plan • Chancellor’s Goals, Objectives, and Timelines, 2018-2019

COLLEGE BUDGET INFORMATION • Fiscal Year 2019 Adopted Budget • Fiscal Year 2019 General Fund Budget Detail • Fiscal Year 2020 Budget Development Calendar • Fiscal Year 2020 Proposed Budget Presentation • Fiscal Year 2020 Proposed State Budget Forms • Fiscal Year 2020 Proposed Truth in Taxation Notification • Fiscal Year 2020 Proposed Capital Budget Plan